Coca-Cola shares declined 1.37% to close at $77.95 on February 9. The stock retreated from a record high of $79.03 established on February 6. Despite the daily dip, the equity has gained 12.9% year-to-date in 2026.
Institutional investors have fueled recent gains by rotating into defensive consumer staples during periods of market volatility. Analysts now forecast Q4 revenue of approximately $12.05 billion, a 4% increase year-over-year. Expected earnings per share range from $0.56 to $0.57.
The company enters the reporting period having beaten revenue estimates in eight of the last 10 quarters. It has also surpassed EPS expectations for seven consecutive quarters. However, a forward P/E ratio of 24x to 26x has raised valuation concerns among some market participants.
Additional risks include potential guidance disappointments regarding the sustainability of volume growth. Despite these factors, UBS maintains a buy rating with a $82 price target. Jefferies also reiterates a buy rating with a price target of $88.